A development of 36 townhouses targeted for low-income renters but with options for eventual ownership was dedicated Friday in Port Richmond.

Grace Townhomes, a partnership of the Women’s Community Revitalization Project  and Firm Hope Baptist Church, were built in less than a year on the site of a former carpet factory bounded by Auburn, William and Janney Streets and Trenton Avenue that was vacant for 20 years. 

The $12.76 million project, designed by Kramer & Marks architects of Ambler, received a $500,000 grant in 2013 from the Affordable Housing Program of the Home Loan Bank Board of Pittsburgh, with financing by TD Bank.
Units will be leased, at $450 to $650 a month, to families with incomes at or below 50 percent of the area's median income. Occupancy will begin next week.